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2010080'72
<br />Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />Hazard ar Froperty Tnsurance. Horrower shall keep the improvements now existing or hereafter erected on the
<br />ProperCy insured against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including t7oods or flodding, for which I,ender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that I_ender requires. The insurance carrier providing the insurance shall be chosen by
<br />13orrower subject to Lender's approval which shall not be uttreasonably withheld. If Borrower fails to maintain
<br />coverage described above, Lender may, at Lender's option, obtain coverage ta protect Lender's ri�hts in the
<br />Property in accordance with section titled Protection of Lender's Rights in the Property.
<br />All insurance pnlicies and renewals shall be acceptable to I.ender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid ��remiums and renewal notices. Tn the event of loss, Borrnwer shall give prompt notice
<br />to the insurance carrier and I.ender. I.ender may make proof of ]oss if nnt rnade promptly by Borrower.
<br />Unless Lender and Sorrower otherwise a$ree in writing, insurance proceeds shall be applied to restoratipn or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br />lessened. If the restoration or repair is not economically feasible or Lender's security wauld be lessened, the
<br />intiurance proceeds shall be applied to the sums secured by this Security lnstrument, wh�ther or not then due, with
<br />any excess paid to Borrower. lf Borrower abandons the Property, or does not answer within the number of days
<br />prescribed by Applicable Law as set forth in a notice from Lender to Borrower that the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender rnay use t1�e proceeds to repair or
<br />restore ttie Propei`ty or to pay sums secured by this Security Instrurnant, �hether or not tlzen due. The period of
<br />tim� for Borrower to answer as set forth in the notice will begin when the notice is given.
<br />UnlesS Lender and Borrower otherwise a�ree in writing, any application aF proceeds ta principal shall not extend
<br />or postpone the due date of the payments due under the Contract or change the amount of the payments. If under
<br />the section titled Acceleration; Remedies, the Property is acquired by Lender, Borrc�wer's right to any insurance
<br />policxes and proceeds resulting from damage to tl�e Property priar to the acquisition shall pass to Lender to the
<br />extent of the sums secured by this Security lnstrument immediately prior to the acquisition.
<br />Preservation, 1Wlaintenance and Protection af the Property; Borrower's Loan Application; l.,easeholds.
<br />}3orrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on
<br />the Yroperty. Borrower shall be in default iF any forfeiture action or proceeding, whether civil or criminal, is begun
<br />that in Lender's goad faith judgment could result in forfeiture of the Property or otherwise materially impair the
<br />lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
<br />reinstaCe, as providc:ci in section titled Borrower's Right to Reinstate, by causing the action or proceeding to be
<br />dismissed with a ruling that, in Lender's gaad faith determination, precludes forfeiture of the Borrower's interest in
<br />the Property or other material impairment of the lien created by this Security Instrument or Lender's security
<br />interest. Bnrrower shall also Ue in default if Borrower, during the loan application process, gave materially false or
<br />inaccurate inforination or statements to Lender (or failed to provide I.,ender wiCh any material information) in
<br />connection with the loan �videnced by the Contract. If this Security Instrument is on a leasehold, Borrower sha11
<br />comply with all the provisions of tlie lease. If Borrow�r acquires fee title to the Property, the leasehold and the fee
<br />title shall not merge unless Lender agrees to the mer�er in writing.
<br />Pratection of Lender's Rights in the Property. If Borrower fails to perform fhe c�venants and agreements
<br />contained in this Security lnstrument, or there is a legal proceeding that may significantly affect Lender's rights in
<br />Che Froperty (such as a proceedin� in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or
<br />regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and
<br />Lender's rights in the Property. L,ender's aclions may include paying any sums secured by a lien which has priority
<br />over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to
<br />make repairs. Although Lender may take action under this section, T,ender daes not have to do so.
<br />__. Any amounts disburserl by Lender under. this section shall.. become additional del�t of Borrower secured by this
<br />S�curity Instrunlent. [Jnless Borrower and I.ander agree to other tenns of payment, these amount5 shall bear
<br />interest from the date of disbur5ement at the same rate assessed on advances under the Contract and shall be
<br />payable, with interest, upon nocice from Lender to Borrower requesting payment.
<br />Inspection. Lender or its a�ent may make reasonable antries upon and inspections of the Property. Lender shall
<br />give I3orrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
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<br />Condemnation. 'f'he praceeds oF any award or claim £or darnages, direct or consequential, in connection with any --
<br />condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby
<br />asaigned and shall be paid to I,ender.
<br />In the event of a tntal taking of the Property, the proc�eds shall be applied to the sums secured by this 5ecurity
<br />Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the
<br />Property in which the fair market value of the Property immediately before the takin� is equal to or greater than
<br />tl�e amount of the sums secured by this Security lnstrument immediately before the taking, unless Borrower and
<br />T.�ender oth�rwise agree in writing, the sums secured by this Security Instrument aha11 be reduced by the amount of
<br />the proceeds multiplied by fhe following fraction: (a) the total amount of the sums secured immediately before the
<br />taking, divided by (b) the fair market value of the Property immediately befnre the taking. Any balance shall be
<br />paid to Borrower. in the event of a parcial taking of the Property in which the fair market value of the Praperty
<br />immediately before Che taking is less than the amount of the sums secured immediately betore the taking, unless
<br />�� 2004-2009 Cumpli�n�e Syslnrti9, Inc. 002D-9874 - 2U09.123G8
<br />Cpnsumer Real �state - Security Lnstrumcnt DL2036 � Page 2 of 5 � www.compGanccsystems.com
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